"The
snack market has recently seen a boom in the number of traditional snack manufacturers
who produce packaged products but it is very essential for them to develop a
sound strategy and have an in-depth knowledge of their target consumers."
After 2001, India has seen a massive
change in Snack food market. The meaning of snack has been redefined from chips
and cookies to beverages, mini-meals and even three items on the plate. There
is a rise in demand of snacks market which drives manufactures to grow and
operate in this segment lucratively. Due to the busier lifestyle in the recent past,
the demand for convenient products has increased a lot with the thrust of
packaged food in India. With the advancement of technology, urbanization,
increase in purchasing power, growth in female work population, expansion of
nuclear families has augmented the business of the packaged snack food and
attracted a large mass toward the snack market in India. In order to save time,
people are gradually shifting to ready to eat food items. And the growth rate
of the packaged food market has been remarkable in last five years.
Traditional and western snacks have
become part of the daily diet for rural and urban kids in India. Working
parents prefer to buy the branded chips and snacks as they believe that these
are prepared hygienically and will provide some amount of energy and
nourishment that the children are deprived of because of their parent's busy
schedules. Parents tend to forget that chips and snacks are fillers and not a
whole meal that provides nutrition in some proportion. Consumer voice did comparative
testing of well known chips and snacks brands to find out how well these
products perform on health and hygiene parameters. Fortunately all the tested
products were endorsed as hygienic and as far as being healthy, the
manufacturer were playing with words – ‘no added msg’, ‘edible oil’, ‘iodized
salt’. So many different names confusing even educated consumers searching for
definition of these words in dictionaries rather than being able to make a
quick decision as to which product is most suited for them.
According
to Recent Published Report of Bonafide Research "India Namkeen Market Overview, 2018-2023" India
traditional snacks Market is expected to grow with a CAGR of more than 8% in
forecasted period. India Namkeen market has wide range of product protfolio
which includes Dal Namkeens, Sev bhujia Namkeen, Gathiya Papdi Namkeen, Nuts
Namkeens and Mix Namkeen.
The
market is mainly dominant by unorganised segment with more than 65% market
share. The Indian traditional snacks bring the diversity in the regional taste
as India experiences the diversification among different cultures of people. With
the increasing consumption of packaged traditional snacks, the usage of various
traditional snacks with exotic taste and moreover, health consciousness among people
has increased the overall consumer base of Indian traditional snacks. Indian
Market is most promising upcoming markets for snacks companies. India is known
for its traditional snacks with bold flavours & taste. The country holds a
prominent position in the world for Namkeen production, offering over more than
50 range of Namkeen, including in flavour, Spices and regional bases. Haldiram,
Balaji wafers, Bikaji, Bikanervala, Prataap snacks, Laxmi Snacks, DFM Foods are
some existing players in the market having remarkable control on organised
traditional snacks market.
Major Companies
Major
brands that operate into India Namkeen market are Haldiram, Balaji Wafers,
Bikaji, Bikanervala, Laxmi Snacks, Parle, DFM Foods, Prataap Snacks, PepsiCo
and others etc.
Report: India
Namkeen Market Outlook, 2023
Base
Year: 2017-18, Estimated Year:
2018-19, Forecast Year: 2022-23
Pages: 65, Figures:
28, Tables: 19.
CONTACT
US
Bonafide Research & Marketing Pvt. Ltd.
Steven Thomas – Sales & Marketing Manager
Telephone: +917878231309
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